We were going to get a DIP from Clydesdale this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Clydesdale recommend any Red Lodge solicitors on the Clydesdale conveyancing panel, or is it better to go independently?
You will need to appoint Red Lodge solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Red Lodge building society branch on various occasions and was informed it wasn't a problem and they will lend. My Red Lodge conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancing practitioner is on the bank approved list, she or he must adhere to the Council of Mortgage Lenders’ Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Nottingham have agreed my mortgage in principle, my offer on a flat in Red Lodge has been accepted, now what?
The estate agent will want to be informed of your conveyancing practitioner's details (be sure the solicitors are on the lender’s panel). Contact Nottingham or the financial adviser and complete any relevant forms. Nottingham will sellect a valuer who will get in contact with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Nottingham will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Red Lodge.
My wife and I have a terraced Victorian house in Red Lodge. Conveyancing solicitor represented me and HSBC Bank. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Red Lodge and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing practitioner who conducted the conveyancing.
How does conveyancing in Red Lodge differ for newly converted properties?
Most buyers of new build premises in Red Lodge contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Red Lodge usually acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Red Lodge or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Red Lodge is where the house is located. What do you suggest?
Flying freeholds in Red Lodge are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Red Lodge you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Red Lodge may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Hoping to buy a property located in Red Lodge and I am already nervous. I couldn't find anything specific about Red Lodge. Conveyancing will be needed in due course but do you know about the Red Lodge area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Red Lodge. In the meantime here are some basic statistics that we found
I am buying a leasehold maisonette in Red Lodge. Conveyancing quotes are averaging around £1700. Is that reasonable?
The average cost in 2014 for conveyancing in Red Lodge was £1,395 not including Stamp Duty and HMLR charges.